TSUNAMI

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The collapse of Thomas Cook has left industry professionals agonising over the huge sum in unpaid bills

Fall Of Thomas Cook Creates 'Tsunami' Of Losses For Tourist Resorts

The Mediterranean's leading tourist hotspots were bracing Tuesday for a "tsunami" of losses, which could amount to hundreds of millions of euros, following the devastating collapse of British tour operator Thomas Cook.Beyond the urgent need to repatriate hundreds of thousands of tourists, industry professionals were agonising over the huge sum in unpaid bills.The British package holiday giant had established a practice of paying a hotel's bills only 90 days after the departure of the guest, raising the question of the huge sums racked up over the busy summer period, several hotel sources said.

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